Palo Alto Networks (NASDAQ:PANW) PT Lowered to $220.00

Palo Alto Networks (NASDAQ:PANWGet Rating) had its price target dropped by investment analysts at Morgan Stanley from $268.00 to $220.00 in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage presently has an “overweight” rating on the network technology company’s stock. Morgan Stanley’s price target suggests a potential upside of 58.43% from the company’s previous close.

PANW has been the topic of a number of other research reports. Piper Sandler decreased their price objective on Palo Alto Networks from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Thursday, January 5th. Macquarie initiated coverage on Palo Alto Networks in a report on Wednesday, November 2nd. They issued a “neutral” rating and a $185.00 price objective on the stock. Cowen restated a “buy” rating and issued a $207.00 price objective on shares of Palo Alto Networks in a report on Friday, November 18th. Credit Suisse Group cut their target price on Palo Alto Networks from $228.33 to $225.00 and set an “outperform” rating for the company in a research note on Friday, November 18th. Finally, KeyCorp cut their target price on Palo Alto Networks from $227.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, November 16th. Five analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $231.31.

Palo Alto Networks Trading Up 1.7 %

Palo Alto Networks stock opened at $138.86 on Thursday. Palo Alto Networks has a 12 month low of $132.22 and a 12 month high of $213.63. The stock’s 50 day simple moving average is $154.30 and its two-hundred day simple moving average is $166.92. The firm has a market cap of $41.71 billion, a PE ratio of -281.47, a P/E/G ratio of 5.46 and a beta of 1.15.

Palo Alto Networks (NASDAQ:PANWGet Rating) last announced its earnings results on Thursday, November 17th. The network technology company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. Palo Alto Networks had a negative return on equity of 5.02% and a negative net margin of 2.46%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.55 billion. On average, equities research analysts forecast that Palo Alto Networks will post 0.79 EPS for the current year.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 15,639 shares of the business’s stock in a transaction that occurred on Tuesday, January 10th. The stock was sold at an average price of $135.88, for a total transaction of $2,125,027.32. Following the completion of the sale, the executive vice president now owns 619,266 shares in the company, valued at $84,145,864.08. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Palo Alto Networks news, CFO Dipak Golechha sold 2,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $172.41, for a total transaction of $344,820.00. Following the transaction, the chief financial officer now owns 80,716 shares of the company’s stock, valued at $13,916,245.56. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Lee Klarich sold 15,639 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, January 10th. The stock was sold at an average price of $135.88, for a total value of $2,125,027.32. Following the transaction, the executive vice president now directly owns 619,266 shares in the company, valued at approximately $84,145,864.08. The disclosure for this sale can be found here. Insiders sold a total of 299,930 shares of company stock worth $48,677,038 over the last 90 days. 3.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Beacon Investment Advisory Services Inc. increased its position in Palo Alto Networks by 140.7% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 5,393 shares of the network technology company’s stock worth $753,000 after buying an additional 3,152 shares during the period. Gofen & Glossberg LLC IL increased its holdings in shares of Palo Alto Networks by 3.7% in the fourth quarter. Gofen & Glossberg LLC IL now owns 70,633 shares of the network technology company’s stock valued at $9,856,000 after purchasing an additional 2,516 shares during the period. Worth Asset Management LLC increased its holdings in shares of Palo Alto Networks by 450.0% in the fourth quarter. Worth Asset Management LLC now owns 396 shares of the network technology company’s stock valued at $55,000 after purchasing an additional 324 shares during the period. Yarbrough Capital LLC increased its holdings in shares of Palo Alto Networks by 22.9% in the fourth quarter. Yarbrough Capital LLC now owns 3,581 shares of the network technology company’s stock valued at $500,000 after purchasing an additional 668 shares during the period. Finally, CMH Wealth Management LLC increased its holdings in shares of Palo Alto Networks by 2.0% in the fourth quarter. CMH Wealth Management LLC now owns 26,868 shares of the network technology company’s stock valued at $3,749,000 after purchasing an additional 531 shares during the period. Institutional investors and hedge funds own 81.82% of the company’s stock.

About Palo Alto Networks

(Get Rating)

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on a customer's network, as well as their instances in public or private cloud environments, as a virtual or a physical appliance; and virtual system upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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